PNC Financial Services 8-K
PositiveGuidance raisedEarnings
New loan production and higher utilization lift net interest income; FY2026 average-loan growth outlook raised to ≈13.5% Y/Y.
Filed 2026-10-15 16:10 ET
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results with Q4 and FY2026 guidance. PNC reported higher revenue and net income, driven by loan growth, higher net interest income and disciplined expenses. It raised several FY2026 growth outlooks and provided Q4 guidance.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Revenue | $6.56B, +11% Y/Y | $19.6B, +15% Y/Y |
| Net income | $2.10B, +15% Y/Y | $5.92B, +19% Y/Y |
| Diluted EPS | $4.97, +14% Y/Y | $13.91, +19% Y/Y |
| Diluted EPS, adjusted (non-GAAP) | $5.09, +17% Y/Y | $14.26, +22% Y/Y |
| Net interest margin (non-GAAP) | 2.94%, vs 2.79% | — |
- Average loans were $372.2B, +14% Y/Y and +2% Q/Q; average deposits were $461.2B, +7% Y/Y and +1% Q/Q. PNC cited new loan production and higher utilization, deposit growth, and increased net interest income.
- PNC returned $1.4B to shareholders: $0.8B in common dividends and $0.6B in share repurchases. The efficiency ratio was 57%, vs 59% a year earlier; return on average tangible common equity was 18.3%, vs 16.77%.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Average loans | FY2026 | Up ≈13.5% vs FY2025 | Up ≈12.5% | Raised |
| Net interest income | FY2026 | Up ≈15.5% vs FY2025 | Up 15%-15.5% | Raised |
| Noninterest income, excluding integration costs and significant items | FY2026 | Up ≈10.5% vs FY2025 | Up ≈9% | Raised |
| Noninterest income, GAAP equivalent | FY2026 | Up ≈12.6% vs FY2025 | — | — |
| Total revenue, excluding integration costs and significant items | FY2026 | Up ≈13.7% vs FY2025 | Up ≈13% | Raised |
| Total revenue, GAAP equivalent | FY2026 | Up ≈14.5% vs FY2025 | — | — |
| Noninterest expense, excluding merger and integration costs and significant items | FY2026 | Up ≈9.5% vs FY2025 | Up ≈8.5% | Raised |
| Noninterest expense, GAAP equivalent | FY2026 | Up ≈12.3% vs FY2025 | — | — |
| Effective tax rate | FY2026 | ≈19.5% | ≈19.5% | Reaffirmed |
| Average loans | Q4 2026 | Up ≈2.5% vs Q3 2026 | — | — |
| Net interest income | Q4 2026 | Up ≈4.0% vs Q3 2026 | — | — |
| Fee income (non-GAAP) | Q4 2026 | Up ≈3.5% vs Q3 2026 | — | — |
| Other noninterest income | Q4 2026 | ≈$250M | — | — |
| Noninterest expense, as adjusted (non-GAAP) | Q4 2026 | Up ≈5.0% vs Q3 2026 | — | — |
| Net charge-offs | Q4 2026 | ≈$250M | — | — |
| Net interest margin (non-GAAP) | Q4 2026 | 3.0% or higher | — | — |
Investor Takeaways
- Watch Q4 results against the loan, net interest income, fee income, expense and credit-cost outlook; PNC also expects Q4 net interest margin of 3.0% or higher.
The summary is written by an AI model reading the filing.
Model 005 · prompt c016c5fc48 · 2026-10-15 22:34:11Z